cd "C:\Users\sertsios\Dropbox\LPSU replication package RFS\Replication\Log files\Appendix Tables"
clear
log using TableA2.txt, text replace 


clear all
cd "C:\Users\sertsios\Dropbox\LPSU replication package RFS\Data"
use LPSU_MainSample_Sep2024, replace
set matsize 10000
cd "C:\Users\sertsios\Dropbox\LPSU replication package RFS\Tables"

***Set of fixed effects
egen sic1year=group(sic1 year)
qui tabulate sic1year, generate(dsic1year)
egen month_post= group(month post)
qui tabulate month_post, generate(dmonth)
qui tabulate year_around_ipo, generate(deventyear) 

eststo clear 
 
***Setting the sample to the IV sample (dropping colinear variables with FEs)
set more off
qui xtivreg2 wroa (IPO=instrument) deventyear2 deventyear3 deventyear4 deventyear5 dsic1year* dmonth* , fe first cluster(id) partial(deventyear2 deventyear3 deventyear4 deventyear5 dsic1year* dmonth*)
gen sample_IV=e(sample) 
keep if sample_IV==1
**Dropping firms for which ROA only has one observation
bysort id: egen count=count(year)
drop if count==1  
 
 
***Reduced form
eststo: qui xtreg wroa wave_dummy_pos, fe cluster(id) 
outreg2 using Table_A2, keep(instrument wave_dummy_pos) sortvar(IPO instrument placebo_instrument) tex(frag) word bdec(3) nocons label ///
 addtext(Firm FE, Yes, Event year FE, No, SIC x calendar year FE, No, IPO month x Post FE, No, Regression, Reduced form) replace 

 
eststo:qui xtreg wroa  wave_dummy_pos deventyear2 deventyear3 deventyear4 deventyear5 dsic1year* dmonth*, fe cluster(id) 
outreg2 using Table_A2, keep(instrument wave_dummy_pos) sortvar(IPO instrument placebo_instrument) tex(frag) word bdec(3) nocons label ///
 addtext(Firm FE, Yes, Event year FE, Yes, SIC x calendar year FE, Yes, IPO month x Post FE, Yes, Regression, Reduced form) 
 
esttab,   keep(wave_dummy_post) order(wave_dummy_post) label se b(%9.3f) se(%9.3f) r2 star(* 0.1 ** 0.05 *** 0.01) addnotes(Both columns: Firm FE, Yes; Column 2 only: Event year FE, Yes, SIC x calendar year FE, Yes, IPO month x Post FE, Yes) 
 
eststo clear   

cd "C:\Users\sertsios\Dropbox\LPSU replication package RFS\Replication\Log files\Appendix Tables"
log close     
